This year, Chase Sapphire Preferred card is really the best card that you can get. Of course there are a lot of options out there in the ever-so-competitive credit card market. You are bound to be flooded with a plethora of options from different banks out there. And who doesn’t like to get free stuff? When you’re spending so much, you are bound to look out for reward options to make it up to you.
Chase Sapphire Preferred is the way to go if you want your card to reward you for all that you’ve spent. With this card coming in new, the introductory offer lets you sign up for the card for no annual fee for the first year and thereafter, it is a meager $95 per year.
As compared to the erstwhile Chase Sapphire card, the preferred card seems similar at the outset. If you dig deeper you’ll find that the preferred card offers all that Chase Sapphire does and more! Here are some of the extra perks of the preferred card:
• 2x points for every dollar spent on Travel, which includes airlines, hotels, car rentals, travel agencies, trains and taxis. This is more than what Chase Sapphire currently offers.
• No Foreign Transaction fees are applicable on purchases that are made outside of the United States
• 7% Annual points Dividend: This is an extremely attractive option for a prospective card holder given that you are awarded extra rewards points to use at the end of each year. Assume that you earned 10000 points over the course of 1 year. You will be awarded 700 points at the end of the year making your total points tally 10700.
• Bonus Reward Points: If you are the above average spender, and you spend more than $3000 in the first 3 months of you possessing the Chase Sapphire Preferred card, you will be awarded a bonus of 40000 reward points! Now imagine how many points that makes up for!
• Travel Boost: This card offers a 25% Travel Boost to all holders. This means that if you redeem your reward points for travel or hotel, through their Ultimate Rewards scheme, you will get a 25% boost in points. If you were spending 40000 points towards travel worth $400, then the boost will give you 50000 points to spend which is worth $500!
• Points Transfer: If you end up transferring your points to participating partners of Chase, then there is a 1:1 guaranteed point’s transfer without any additional fees charged.
The Chase Sapphire Preferred card also offers Cash Back, wherein there is a one-dollar per point cash back provided. Also, there are innumerable Gift Cards options available on Amazon, Starbucks, Target, Nordstorm, Home Depot and Applebees.
If you are still not sure of going in for the Chase Sapphire or the Chase Sapphire Preferred card, you should definitely give the Preferred card a shot because the first year fees is waived off anyway due to the introductory offer. And in the second year, if you change your mind, you can always opt for the Chase Sapphire card. However, given all the benefits of the Preferred card, $95 will not seem like a huge amount at the end of the day!